Jaypee Infratech

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Jaypee Infratech Ltd
Company type Public
IndustryReal estate
Founded5 April 2007 (2007-04-05) [1]
FounderManoj Gaur [1]
Defunct24 May 2024 (2024-05-24)
Headquarters
Noida
,
India
Number of locations
10 [1]
Area served
India
Key people
Manoj Gaur (Chairman & Managing Director, Jaypee Infratech Ltd), [2]
ProductsResidential buildings,
Commercial complex,
Township;
Website jaypeeinfratech.com

Jaypee Infratech Ltd (JIL) was an Indian real estate company with its head office in Noida, Gautam Buddha Nagar, India. JIL was formed by Manoj Gaur elder son of Indian Entrepreneur Jaiprakash Gaur, the owner of Jaypee Group. [3] The company was majorly engaged in the development and construction of real estate, comprising expressways, and commercial and residential buildings. The company was maintaining and developing the Yamuna Expressway Project, [4] a 165-kilometer (km) long six-lane expressway from Greater Noida to Agra. [5] Jaypee Infratech Ltd was also listed on the Bombay Stock Exchange (BSE) [6] and the National Stock Exchange (NSE). [7]

Contents

In 2023, Gaurs took over a few of Jaypee Infratech's projects. [8]

Projects

Jaypee Infratech insolvency case

In 2007, Jaypee Infratech Limited (JIL) proposed to build 32,000 [11] housing units and plots after signing an agreement with Yamuna Expressway Industrial Development Authority (YEIDA) [12] to collect tolls on the expressway for 36 years and was allotted 25,000 hectares of land in Noida and Greater Noida and near Dankaur. [13]

However, the company couldn't deliver the plots and houses as the construction on these projects was stopped around 2013 to 2014. [14] In Suraksha Group [15] acquired these projects from Jaypee Infratech Ltd and won the case and now over 20,000 homebuyers [16] will get their homes which they had booked over a decade ago. [17]

References

  1. 1 2 3 "Profile". Money Control. Retrieved 11 October 2023.
  2. ↑ "Profile". Jaypee Infratech Ltd. Retrieved 11 October 2023.
  3. ↑ "Jaypee Infratech Limited (JPINFRATEC.NS) Company Profile & Facts - Yahoo Finance". finance.yahoo.com. Retrieved 11 October 2023.
  4. ↑ Ghosh, Himadri (13 October 2017). "Insolvency: Jaypee Infra wants to sell Yamuna Expressway for Rs 2,500 crore". www.ibtimes.co.in. Retrieved 11 October 2023.
  5. ↑ "Jaypee Infratech seeks ₹20 cr to enhance safety on Yamuna Eway". Hindustan Times. 7 September 2018. Retrieved 14 March 2024.
  6. ↑ "Stock Share Price | Get Quote | BSE". www.bseindia.com. Retrieved 11 October 2023.
  7. ↑ "Stock Share Price godrej properties | Get Quote godrej properties | BSE". www.bseindia.com. Retrieved 28 November 2018.
  8. 1 2 "Gaurs Group to develop 450 luxury apartments with an investment of over Rs 500 crore in Jaypee Greens". Moneycontrol. 13 June 2023. Retrieved 11 October 2023.
  9. ↑ "Cabinet note on Suraksha's Wish Town plan likely soon". The Times of India. 17 February 2024. ISSN   0971-8257 . Retrieved 14 March 2024.
  10. ↑ "Noida: Jaypee Aman project to get occupancy certificate for six towers". Hindustan Times. 11 July 2017. Retrieved 14 March 2024.
  11. ↑ "NCLT approves Suraksha group's bid for Jaypee Infratech; relief for more than 20,000 homebuyers". Zee Business. 7 May 2023. Retrieved 11 October 2023.
  12. ↑ "Jaypee Infratech insolvency case: Relief for homebuyers who fought a decade-long legal battle". Moneycontrol. 8 March 2023. Retrieved 11 October 2023.
  13. ↑ "Jaypee Infratech promoter Manoj Gaur makes a settlement offer to lenders". cnbctv18.com. 25 May 2021. Retrieved 11 October 2023.
  14. ↑ PTI (7 March 2023). "NCLT approves Suraksha group's bid for Jaypee Infratech; relief for more than 20,000 homebuyers". The Hindu. ISSN   0971-751X . Retrieved 11 October 2023.
  15. ↑ Livemint (11 April 2023). "IT dept challenges NCLT order approving Suraksha Group' bid for Jaypee Infratech". mint. Retrieved 11 October 2023.
  16. ↑ "NCLT approves Suraksha Group's bid to acquire Jaypee Infratech, complete 20,000 flats in stalled projects". The Economic Times. 7 March 2023. ISSN   0013-0389 . Retrieved 11 October 2023.
  17. ↑ "Ray of hope for 20,000 homebuyers as work begins in Jaypee Infra's 'ghost town' in Noida". The Economic Times. 26 August 2023. ISSN   0013-0389 . Retrieved 11 October 2023.


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